Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets:

The following table shows changes in the carrying amount of Goodwill (in millions):


	Amount
Goodwill as of December 31, 2021	$	1,237.0
Acquisitions	26.2


Goodwill as of December 31, 2022	1,263.2
Acquisitions	18.1

Goodwill as of December 31, 2023	1,281.3
Acquisitions	2.7

Goodwill as of December 31, 2024	$	1,284.0

Goodwill increased in 2022, 2023 and 2024 as a result of our acquisitions of inpatient rehabilitation operations.

We performed impairment reviews as of October 1, 2024, 2023, and 2022 and concluded no Goodwill impairment existed. As of December 31, 2024, we had no accumulated impairment losses related to Goodwill.

The following table provides information regarding our other intangible assets (in millions):


	Gross Carrying Amount		Accumulated Amortization		Net
Certificates of need:
2024	$	131.4	$	(49.0)	$	82.4
2023	120.9		(43.1)		77.8
Licenses:
2024	$	65.7	$	(56.4)	$	9.3
2023	65.7		(55.4)		10.3
Noncompete agreements:
2024	$	66.5	$	(63.4)	$	3.1
2023	66.7		(62.0)		4.7
Trade name - Encompass:
2024	$	135.2	$	—	$	135.2
2023	135.2		—		135.2
Trade names - all other:
2024	$	39.6	$	(23.6)	$	16.0
2023	39.3		(22.2)		17.1
Internal-use software:
2024	$	214.4	$	(163.3)	$	51.1
2023	198.6		(166.4)		32.2
Market access assets:
2024	$	13.2	$	(12.5)	$	0.7
2023	13.2		(12.3)		0.9
Total intangible assets:
2024	$	666.0	$	(368.2)	$	297.8
2023	639.6		(361.4)		278.2

Amortization expense for other intangible assets is as follows (in millions):


	For the Year Ended December 31,
	2024		2023		2022
Amortization expense	$	28.8	$	32.5	$	28.8

Total estimated amortization expense for our other intangible assets for the next five years is as follows (in millions):


Year Ending December 31,	Estimated Amortization Expense
2025	$	25.4
2026	23.0
2027	16.3
2028	12.2
2029	10.7